Dennis Group to merge with Henlys
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• The Dennis Group has agreed terms for a merger with bus and coach maker Henlys. The main aim for the deal is to combine resources to offer complete packages for the North American and Far Eastern markets. Henlys, which sold its motor distribution business last year, owns the Plaxton and Northern Counties brands in the UK as well as 49% of the Canadian Prevost group.
The new group, with a market value of £474m. will retain existing brand identities hut intends to combine its service networks. It plans to maintain its current relationships with other chassis manufacturers, bodybuilders and customers.
Dennis managing director John Smith says: "The CV side of the business will continue unchanged." But he adds that he expects new specialist vehicle marketing opportunities in North America.
The merger, which is still subject to official approval, has been well received by the financial markets, boosting Dennis and Henlys share prices.